Timeshare Salesperson Training

By one estimate, over 8 million Americans own a timeshare. When timeshare owners attempt to sell their timeshare, they often find it more difficult to sell than it was to purchase. Scammers—masquerading as legitimate companies—seek to take advantage of this.

Timeshare resale scam artists call sellers of timeshares, posing as a reseller or real estate agent. The scam artist claims to have a buyer for the timeshare or guarantees he can sell the timeshare for a good price.

Scam artists go to great lengths to appear credible. They use the names, addresses, and phone numbers of reputable businesses, create elaborate websites and official-looking documents, and employ fake escrow agents and title companies—who are just other scammers. Some scammers may have information about you and your timeshare before calling.

After persuading you that they can sell your timeshare, the scammer asks you to send money up front—usually by wire transfer—to pay closing costs, taxes, or other fees. If you pay, the scammer typically requests additional money for unforeseen expenses until you realize the scam. The bottom line: there was no sale and you have lost hundreds or thousands of dollars.

From the Attorney General of Wisconsin

What some consumers realize too late is that renting may:

• be a lot cheaper,
• allow more flexibility and variety in vacations,
• prevent being locked into yearly maintenance fees until death or bankruptcy.

Some resorts refuse to “take back” unwanted memberships.

This is because the income generated by annual maintenance fees may be more valuable than the member’s title to real estate. Some Wisconsin timeshare/campground members state they have been unable to even give away their membership, much less being able to find a buyer.

Timeshare owners who stop using the resort facilities must continue to pay their annual maintenance fees and any special assessments. If the member refuses to pay annual dues, the condominium association may sue and recover back dues, interest, and attorney fees. Some members say they feel trapped for life.